Freight payment processor IPS Worldwide LLC heads to federal bankruptcy court in Florida Feb. 11 to face emergency creditors’ motions as well as more possible government oversight in its Chapter 11 case.
Creditors YRC Enterprise Services Inc. and YRC Inc. want to walk away from their contract with IPS Worldwide to provide freight payment services. They will ask Judge Karen S. Jennemann of the U.S. Bankruptcy Court for the Middle District of Florida to make an urgent ruling because IPS Worldwide has hasn’t paid YRC’s freight carriers as required under the contract.
YRC, a national transporter of industrial, retail, and ...
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